PG&E;, Edison Make Management Changes

The parents of California’s two largest electricity utilities unveiled management moves Wednesday.

PG&E; Corp. promoted Chief Financial Officer Peter Darbee to president and chief executive, succeeding Robert D. Glynn Jr. Glynn, 61, will remain as chairman until the end of next year, when he will retire.

Darbee, 51, also will join the board. He will be succeeded as finance chief by Controller Christopher Johns, 44, the San Francisco-based company said. The changes are effective Jan. 1.

Glynn joined PG&E;’s Pacific Gas & Electric unit in 1984 and was named CEO of the parent company in June 1997.

Edison International said Chief Financial Officer Theodore Craver Jr. will swap jobs with the head of the Rosemead company’s power plant and financial services units.

Craver, 53, was elected chairman and CEO of Edison Mission Energy, which operates power plants. Craver also will be CEO of Edison Capital, which provides capital and financial services.

Replacing Craver as finance chief will be Thomas R. McDaniel, 55, who also will become an executive vice president. The changes take effect Jan. 1.

PG&E; shares rose 36 cents to $32.50 on the New York Stock Exchange.

Shares of Edison, which also owns Southern California Edison, rose 47 cents to $31.24, also on the NYSE. The Edison announcement came after exchanges closed Wednesday.